In an ambitious effort to boost customer service and the banking industry in Nigeria, MTN Nigeria has launched new software to assist small and medium sized banks and help them compete on a national level.

The aim of the new service platform is to help create more microfinancing banking in the country, as well as improve overall customer service within the telecommunications sector.

According to MTN, the new software platform “could save microfinance banks up to 70 percent of the traditional costs involved in procuring, hosting and implementing typical banking software.”

The company said that the new software was developed by Computer Warehouse Group (CWG) and will be run by MTN Business, the business-to-business division of MTN Nigeria.

The mobile operator added that “MTN XaaS Micro-banking software has been designed to enable micro-finance banks (MFBs) to carry out banking operations without having to pay much in licensing, storage and implementation costs.”

Babatunde Osho, Chief Enterprise Solutions Officer for MTN Nigeria, said MTN XaaS Micro-banking software was “one of a number of cloud services MTN Business will launching in Nigeria.”